Legal Question in Real Estate Law in Florida

Escrow Dispute

We had a sale contract presented by an agent for our home. The buyer supposedly was conveniently rejected for approval after a preapproval at contract acceptance. Appraisal etc has all been done. They were also due to deposit additional moniews this week. Buyer was unhappy with termite damage repair required which was well within the $ amount limit in the contract. The agent says if we dispute the escrow money we will not be able to keep our home for sale and sell to another buyer, that it takes 6-12 months to hear these disputes at the state level, and that the reneging buyer could halt any subsequent sale at the 11th hour because he still has contractual rights to our home. Is this information true? The agent has told me this to get us to sign a release.


Asked on 3/01/05, 2:39 pm

2 Answers from Attorneys
Randall Gilbert Gilbert & Caddy P.A.

Re: Escrow Dispute

Consult a local attorney and have them review the contract so that you can be fully apprised of your rights. Your rights will largely depend on the terms in the contract which both the buyer and seller signed. Good luck.

Randall Gilbert

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Answered on 3/01/05, 4:19 pm
David Slater David P. Slater, Esq.

Re: Escrow Dispute

Your brokers analysis sounds correct.

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Answered on 3/02/05, 7:09 am


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